My daughter has got us into debt!

ninky_2

has your daughter accepted that this was theft and therefore she has committed a criminal act? have you discussed this fact with her. i think you need to.

bluebag

Hi cp2010, my word, what a mess to come back to!

Something very odd is going on with your daughter. You say that a little over a year ago she was a happy, loving daughter that you trusted to manage both your personal and business finances.

In this short space of time she has stolen cash, obtained credit and loans in someone else's name. This is a hefty sum of money she has stolen.

Some cases of theft like this have major underlying problems. It would be best to hand this over to the police rather than try and handle it yourself.... this may seem very harsh, but is the best way of uncovering problems.

Trying to handle it yourself may seem like a good idea, but if there are more serious problems behind this and you 'deal with it' it could prevent her getting the help she may need.

Best wishes.
bb

DarkConvict

Whilst you left her in-charge of the business financial matters (cash assets is probably a lost you'll have to reclaim yourself), the credit taken out in your name is fraud and needs to be reported to the creditors involved and police.
I have to agree with others, something must have changed with her and you will need to talk to her and ask why, but the moment she defrauded you of £25,000 she lost the rights of your protection, you need to goto the police.
Since you have business wide problems including tax, you will need to be honest with the HMRC which will no doubt call into question other issues, and as fraud is a criminal offence the police may liek be involved at some other point, its best to sort it all out now.

Too see what has happened, you can get your £2 statutory reports for each credit reference agency.

Experian - http://www.experian.co.uk/wiseconsumer/
Equifax - http://www.equifax.co.uk/Products/credit/statutory-report.html
CallCredit - http://www.callcredit.co.uk/consumer.aspx

p.s. Not sure if this offers comfort, but this is not the first time we have heard of such large amounts been fraudulently obtained or stolen by family members on this forum. Where those that made the mistake can pay it back within a couple of years its not so bad, but in some cases people do not respond so i can only assume the police were involved.

Primrose

I can't imagine what a huge shock this must have been for you, but I'm also inclined to suspect there is a deeper underlying reason why your daughter seems to have undergone a complete personality change. I'm wondering whether she has got into drugs in some way and has defrauded you of your money to fund a drug habit.

I suspect that in the end, unless you and your husband don't want to end up being swamped in debt and losing everything you've ever worked for you may have to call in the police. It is a dreadful situation she has put you into and I don't think you will be doing her any favours to 'let her off the hook'. She may be in deeper criminal trouble than you believe and I think you simply have to take this action to protect yourselves.

You say you've had to temporarily move in with your daughter. Does she own her own house? Could she sell it to repay you? Does she have any other possessions she can sell to help raise some cash? You do need to report her to the police to protect yourselves from HM Customs & Revenue. If they start delving into your affairs because you cannot raise funds to pay your tax bills this will herald another nightmare for you. Your daughter simply has to face up to the consequences of what she has done.

You have my deepest sympathy. It is an absolutely rotten situation for any parent to find themselves in.

glynn78

How old is your daughter??

I will re-iterate what most others have said and call the Police along with all the credit companies she has fraudulently obtained finance from.

Why should you have to suffer and make do with the £200 she may not be able to afford to pay off a £25000 debt.

dancingfairy

Gosh what a nightmare- I agree with some of the others - you need to find out why she has been stealing - I also thought there might be something going on with drugs etc.
Hopefully you can get to the bottom of it all and try and rebuild things - both with your business and also with your daughter with whom I guess relations are going to be 'strained' for some time.
df

JasX

What did she spend the 25k on? does she have anything to show for it that can be sold? does she have any assets herself (eg house/car that could be sold to repay you and she move off to rented accomodation?)

euronorris

How did she manage to obtain credit in your name in the first place? Are you still registered on the electoral roll in the UK? And were you receiving an income from the business?

How thorough, exactly, were the creditors when checking the identity on application?

I'm sorry it's such a mess right now and that your daughter has done this to you. But, I think the others are right, you need to report it as fraud. I don't see how she will learn her lesson otherwise as she is 30, not 18. And, from what I understand, this isn't the first time she's messed up with money.

I too am curious as to where all this money has gone. Has she told you? Or does she have a wardrobe full of designer gear?

An alternative would be to sit down and look at her SOA with her. See where cutbacks can be made so that she can repay more money to you. Get her to sell anything and everything that isn't nailed down. Hell, she can also get a second job in the evenings/weekends to bring in extra cash.

But, I wouldn't recommend taking the fall for her. She will only repeat this incident then as she knows you'll her out. And next time, it may not be you and your husband she does this to. It may be a friend, boyfriend or another relative.

I hope you find a way to move forward.

xx

pepe2008

Difficult call, but I do think that you have to preserve your own standing as much as possible. if that means reporting her, then so be it.

Are you absolutely sure that she has done this entirely on her own. People who go from happy, loving, outgoing etc to doing this sort of stuff may have other problems and/or other people having some effect.

Talk to her, use the Police as a threat maybe. she may need as much help as you feel you do...?

g_attrill

I agree with the others, that I don't think you should be paying up, it is a significant fraud. If you do report it to the police then yes, she will be in a "worse position" but surely that's only right, given that you were a victim of fraud, and her the perpetrator?

Looking at it realistically, she will be prosecuted but (I'll stick my neck out here) is unlikely to go to prison, even if it was spent on holidays and TVs. She will have to repay the amounts but only at a rate she can afford. Her credit will be trashed for a long time, but it doesn't sound like she can be trusted with it anyway, so perhaps a period of time to reflect on money matters is a good idea.

That said, as mentioned you don't seem to have mentioned either where the money went, or her response to you finding out, or her reaction/explanations.\